3 Costly Internet Business Mistakes to Avoid
Howdy,
I hope you can keep a secret because today i'm going to share with you 3 of the most costliest mistakes i've personally made over the last 5 years or so while trying to unearth the so called secrets to making money online with an internet business…
The reason i hope you can keep a secret is that my wife Cheryl would probably kill me if she found out about what i'm about to share with you. All i can say is it's a good job she's not very internet savvy and more importantly doesn't know the URL of this blog 
Internet Business Costly Mistake No 1
I went and bought a custom built portal type website from a seller on ebay for $2,700. The auction description went on to explain that the site would be selling domain names and web hosting and gave an example of how much money i could earn in a month with very little effort. Of course gullable old me was sold on the idea and gladly paypals the seller the $2,700 for the site…
Little did i realize at the time the site i'd just bought was destined to failure from the start because i didn't have the necessary skills in:
a. Traffic generation
b. Setting up hosting accounts
c. Selling domain names
I eventually gave up on the site altogether and just let the site die a natural death when the domain expired…
Lesson Learnt
Never buy into the myth that it's easy to make money online without firstly learning the skills required to make it happen…
Internet Business Costly Mistake No 2
About 4 years ago i paid $997 to take part in Terry Deans 6 week internet marketing mentoring program. The goal of the mentoring programme was that by the end of week 6 each individual student would have their very own internet business set up and making a profit. Of course that's only if you finish all 6 assignments correctly by following Terry's instructions…
By the end of week 4 as the assignments started to become more work and take up more time i decided to quit the programme and try another money making method instead. Another $997 wasted 
Lesson Learnt
Understand the importance of maintaining focus and persistence on the goal you are ultimately working towards. Quit believing the myth that there's easy money to be made online without firstly putting in the hard work that's required to earn it…
Internet Business Costly Mistake No 3
I made the same mistake as most newbies make by buying all the latest make money online ebooks and just reading them without actually taking any action from what i'd learnt. While it's still important to keep up with new developments and techniques within your particular niche it's vital that you understand that unless you take any action towards your chosen goal nothing actually happens…
Lesson Learnt
Take action with the information that you've learnt instead of just reading it. You could read 100 ebooks on how to make money online but unless you actually use that information in some type of action you'll never make any progress at all…
While it's unavoidable making mistakes when first trying to make money online with an internet business, hopefully by reading this you'll steer clear of the costly mistakes i've made…
Bye for now John
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Joe | July 9th, 2007 at 8:21 pm #
Hi John,
Wow! Those are indeed costly mistakes. Thanks for the confession; my mistakes are slightly less dramatic. Ok, LOTS less dramatic, but get the same results: ZIP!
Daily Burger | July 9th, 2007 at 8:50 pm #
Although the most eBook are crap, especially when you have to pay for them, some eBooks are worth reading. I've learned everything I know through blogs, and I think that rocks!:) Good luck on making money. I will be checking your blog out more often
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Sheila | July 11th, 2007 at 12:37 am #
Thanks for sharing your secrets and for being so honest about it.
Regarding e-books - FYI - there is a free e-book that just came out today over at Marketing Pilgrim. Here's the url for it: http://www.marketingpilgrim.com/internet-marketing-books/
I always find that you can't go wrong with free. It's my favorite four letter word.
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cooliojones | July 12th, 2007 at 12:13 pm #
If you search long and hard enough, you can find those same e-books now for free! Most are a bunch of crap anyway. Glad you learned your lessons and hopefully someone newbie can see this post and avoid the same pitfalls.
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John Metcalfe | July 13th, 2007 at 5:45 am #
Yes they are indeed costly mistakes but i bet there are plenty of people who have made even costlier mistakes than i've made it's just that there probably not willing to admit it like me
John
John Metcalfe | July 13th, 2007 at 5:54 am #
Thanks for the link sheila i will check it out…
John
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Alan Roy Hocking | August 6th, 2007 at 11:13 am #
Hi John,
Great blog with loads of good free info for us newbee bloggers.
Re: Make money online overnight miracle websites. "If it sounds too good to be true………"
Our most valuable lessons are learnt from personal experience and the second fastest way to learn is listen to other peoples personal experiences!
Thanks for sharing yours.
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